2012 Volkswagon Passat on 2040-cars

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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

VW Chattanooga plant very close to UAW representation

After months of fighting from both sides, it looks like the Volkswagen factory in Chattanooga, TN, might unionize under the United Auto Workers after all. According to a letter acquired by The Associated Press, VW and the UAW reportedly struck a deal last spring where the union agreed to stop its challenge of the organization vote with the National Labor Relations Board to help clear the way for the CrossBlue to be produced in Tennessee. In exchange, the automaker would recognize the UAW at the plant. Leaders of the Local 42 at the facility reportedly signed the letter.
It seems that such an agreement would clear the way for the factory to unionize after months of dispute. According to The Detroit News, under Tennessee law, workers aren't required to join the organization. Although, that might not be a problem. As of a few months ago, Local 42 already claimed to have signed around 700 of the plant's roughly 1,500 workers.
Controversy has constantly swirled around the possible unionization at the Chattanooga plant. The UAW held its official decision in February and lost 712 to 626. However, there were allegations of intense political pressure to make sure the ballot failed. A later report also found that VW was offered $300 million in incentives well before the vote to make sure things progressed to the "satisfaction of the State of Tennessee," but the deal was later retracted. In July, the UAW opened Local 42 on the campus in hopes of signing up a majority of the workforce by volunteering to be a part of it.

Volkswagen formally introduces super-efficient XL1

Lightweight and low drag are hallmarks of great sportscar design. But when paired with a super-efficient, hybrid powertrain, you have the Volkswagen's XL1 that has been formally introduced in Geneva today.
When the 1,700-lb, carbon-fiber-bodied two-seater hits the road, its claimed 261 miles per gallon will make it the world's most-fuel-efficient production car. Though "production car" might be a stretch since VW said in a February press release that the XL1 would be built using "handcrafting-like production methods." We translate that to mean you won't be seeing many of these cars on the road. Though no one at VW has mentioned pricing yet, early rumors suggested a six-figure price tag.
That's supercar budget for a vehicle that has a 47-horsepower, two-cylinder diesel engine and a 27hp electric motor. With numbers like that, owners can expect 0-62 mph times of 12.7 seconds and top speed near 100 mph.